Tax Issues for Commercial Practitioners 2014

Course Date: May 14, 2014

Welcome and Introduction

David Christian — Thorsteinssons LLP, Vancouver

Corporate Taxation Overview: Incorporation

  • nature of coporate taxation
  • taxation of different sources of income
  • corporate tax deferrals
  • theory of integration
  • anti-avoidance rules

David Christian — Thorsteinssons LLP, Vancouver

I. Problems in Incorporation

A. Contractors and Personal services

  • personal services business (PSB): what is it?
  • tax consequences of carrying on a PSB
  • tips to avoid PSB status

Donald W. Smetheram — Smetheram & Company Law Corporation, Vancouver

B. Rollovers and Share Structures

  • considerations for share structures
  • overview of rollovers
  • tips and traps

Annie Chen — Richards Buell Sutton LLP, Vancouver

Networking Break

C. Distributions

  • salary 
  • dividends
  • loans
  • return of capital 

Kim M. Ho — Thorsteinssons LLP, Vancouver

D. Purchases and Sales of Assets and Shares

  • key tax issues in a sale of assets
  • key tax issues in a sale of shares
  • capital gains exemption issues
  • tax clauses in acquisition agreements
  • dealing with restrictive covenants

Leonard Glass — Lawson Lundell LLP, Vancouver

E. Divisive Reorganizations—Purifications, Splits, and Spins

  • purification advantages and steps
  • related party divisive reorganizations
  • "butterfly" reorganizations
  • s. 55 of the Income Tax Act

David R. Baxter — Thorsteinssons LLP, Vancouver

Lunch (on your own)

II. US Tax for Canadian Practitioners

  • when to consider US tax issues
  • US citizens and residents
  • classification of entities
  • businesses with US connections
  • US tax compliance
  • renunciation of US citizenship

David G. Roberts — Attorney, San Francisco

Networking Break

III. Roundtable Forum: Common Practice Issues

David Christian — Thorsteinssons LLP, Vancouver
Frank W. Quo Vadis — Koffman Kalef LLP, Vancouver
Nicholas P. Smith — Legacy Tax + Trust Lawyers, Vancouver
Ted M. Sutcliffe — Thorsteinssons LLP, Vancouver

Closing Remarks

David Christian — Thorsteinssons LLP, Vancouver